Home / Knowledge / News / Apparel/Garments / Nepal's first garment processing zone invites investors

Nepal's first garment processing zone invites investors

08
May '19
Nepal
Nepal’s first garment processing zone in Simara in Bara district in Province 2 recently invited investors to submit applications to build production plants in the zone. The zone is part of the government plan to build a special economic zone (SEZ) in each of the seven provinces, said Chandika Prasad Bhatta, executive director of the SEZ Development Committee.

The zone was built with an investment of Rs 2.5 billion to facilitate exports of Nepali readymade garments (RMG).

The newly amended SEZ Act has reduced the mandatory export provision from 75 per cent to 60 per cent to ensure sustainability of firms inside SEZs, while 40 per cent of their production will be allowed to be sold in the domestic market.

The government amended the act after investors in SEZ expressed their lack of ability to export a majority of goods immediately after beginning production, according to a newspaper report in Nepal.

The Nepali Government recently also claimed that the garment processing zone started operations six months ahead of deadline.

According to Garment Association Nepal, there are 52 readymade garment factories operating in the country with an annual production capacity of 6-7 million pieces. The total investment in the industry is Rs 6 billion.

So far, only one SEZ has been built in Bhairahawa of Province 5. The government plans to open an SEZ each in Biratnagar of Province 1, Panchkhal of Province 3, Gorkha of Province 4, Jumla of Province 6 and Dhangadhi of Province 7. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Sep 2020

UK finance minister outlines Winter Economy Plan

UK chancellor of the exchequer Rishi Sunak yesterday outlined...

Pic: Shutterstock

Textiles | On 25th Sep 2020

India in process of finalising Mauritius FTA: minister

India is in the process of finalising the proposed free trade...

Pic: Shutterstock

Textiles | On 25th Sep 2020

Indonesia expects economy to shrink by 1.7-0.6% this year

Indonesia recently revised down its 2020 gross domestic product...

Interviews View All

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Textile industry, Head honchos

Textile industry
Head honchos

Athleisure is the current buzzword in fashion

Yash Agarwal, Hitansh Online

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Himanshu Jariwala,

Himanshu Jariwala

J Korin started as a partnership firm with four powerlooms in the textiles ...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

Pierre Wiertz talks about the vast world of sustainable nonwovens and...

Lynda Kelly, Suominen Corporation

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Davide Vigano, Sensoria

Davide Vigano
Sensoria

Sensoria is a leading developer of smart garments and IoMe (Internet of...

Aditi Somani, Aditi Somani

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant & Nandita are known for being inspired by...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


September 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search